Similar Search Results

EMU in the Early Years: Differences and Credibility

Buti, Marco; Sapir, André - C.E.P.R. Discussion Papers - 2001

The main issue in the early years of EMU is one of credibility. On one hand, high exposure to asymmetric shocks and low … adaptability (be it in terms of stabilization or adjustment) to both symmetric and asymmetric shocks make the early years of EMU … potentially problematic. On the other hand, significant economic differences between EMU countries raise questions regarding the …

Persistent link: https://www.econbiz.de/10005123746

Monetary Cohabitation in Europe

Persson, Torsten; Tabellini, Guido - C.E.P.R. Discussion Papers - 1996

How can monetary policy in stage III of European Monetary Union be coordinated between the ‘ins’ and the ‘outs’? This paper compares alternative institutional mechanisms, and concludes that a generalized system of inflation targets at the European level has several merits: it strengthens...

Persistent link: https://www.econbiz.de/10005124416

Monetary Interdependence under Alternative Exchange-Rate Regimes: A European Perspective

van der Ploeg, Frederick - C.E.P.R. Discussion Papers - 1989

This paper analyses and compares the effects of common demand and supply shocks on the setting of optimal monetary policies under a clean float, a managed exchange rate system (such as the EMS) and a monetary union, when welfare depends on unemployment and the cost of living. The results suggest...

Persistent link: https://www.econbiz.de/10005504499

The Welfare Economics of Cooperative and Uncooperative Fiscal Policy

Buiter, Willem H.; Kletzer, Kenneth - C.E.P.R. Discussion Papers - 1990

In a competitive two-country overlapping generations model with perfect capital mobility, a plan that is individually Pareto optimal (that is Pareto optimal with respect to individual preferences) can be sustained without coordination of national fiscal policies where the fiscal arsenal is...

Persistent link: https://www.econbiz.de/10005662314

Monetary Integration and Economic Convergence

Sibert, Anne - C.E.P.R. Discussion Papers - 1997

Recent research in contract theory views ownership as a substitute for complete contracts. In this paper this approach is applied to monetary integration. Countries face a coordination problem when conducting monetary policy: negative spillovers ensure uncoordinated policy generates too high...

Persistent link: https://www.econbiz.de/10005662405

The Theory and Practice of International Policy Coordination: Does Coordination Pay?

Currie, David; Holtham, Gerald; Hughes, Gordon - C.E.P.R. Discussion Papers - 1989

This paper is a review of the theory and practice of international economic policy coordination. Coordination is defined as the joint control of some economic policies by several countries. We review the experience and the preferences of policymarkers for coordination since the War, and...

Persistent link: https://www.econbiz.de/10005666435

Finance, Trade and Development: Issues in Transatlantic Cooperation

Portes, Richard - C.E.P.R. Discussion Papers - 1986

Despite current economic problems and conflicts - or perhaps as their cause - the concordance of policies among the major industrial countries in the first half of the 1980s in dealing with finance, trade and development is at a peak. This has been the result not so much of cooperation or...

Persistent link: https://www.econbiz.de/10005666448

Target Zones and International Policy Coordination: The Contrast Between the Necessary and Sufficient Conditions for Success

Hughes Hallett, Andrew - C.E.P.R. Discussion Papers - 1990

This paper distinguishes between some obvious necessary and sufficient conditions for adopting the target zone proposal as a means of improving macroeconomic performance. The necessary conditions may be satisfied fairly easily, but it is a good deal more difficult to design a targeting system...

Persistent link: https://www.econbiz.de/10005666968

Protectionism and the US Trade Deficit: An Empirical Analysis

Helkie, W; Hughes Hallett, Andrew; Marquez, Jaime - C.E.P.R. Discussion Papers - 1989

The persistence of large trade and budget imbalances has led to increasing demands for protectionist policies. Despite a substantial theoretical literature there appears to be no empirical literature on the use of tariffs as a macroeconomic policy instrument. This paper fills that gap, using the...

Persistent link: https://www.econbiz.de/10005667059

Monetary Regimes and Labour Market Reform

Sibert, Anne; Sutherland, Alan - C.E.P.R. Discussion Papers - 1997

Policy-makers’ incentives to undertake costly reform depends on the international monetary system. We consider the effect of monetary regimes on labour market reform. We find international negotiation of monetary policy produces less reform than non-cooperation. Reform is lowest of all with...

Persistent link: https://www.econbiz.de/10005789019

1
2
3
4
5
6
7
8
9
10
Next
Last